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Notes to Accounts of Alankit Ltd.

Mar 31, 2014

Note no.: 1

Figures for previous year have been regrouped / rearranged wherever considered necessary.

Note no.: 2

Paisa have been rounded off to the nearest rupee.


Mar 31, 2013

1.1 There are no rights, preferences and restrictions attached to any share.

1.2 There is no share reserved for issue under options and contracts/ commitments for the sale of shares/disinvestment. *Balances of Trade Receivables are subject to confirmation and reconciliation, differences if any, shall be accounted for on such reconciliation.

* Trade Receivables are expected to realise at least the amount at which they are stated, if realized in the ordinary course of business.

Note No. 3 : Contingent Liability

Bank guarantees issued in favour of Oriental Bank of Commerce (for UID Project] Rs. 3,775,200/- & in favour of UIDAI Rs. 200,000/- (Previous Year nil]

Note No. 4 : Earning Per Share

The earning per share has been calculated as specified in Accounting Standard 20 on "Earning Per Share" issued by ICAI and related disclosures are as below:


Mar 31, 2012

1.1 Figures of previous year have been regrouped or rearranged, wherever considered necessary to make them comparable with those of the current year.

1.2 Preliminary expenses incurred upto March 31, 1998 are amortized over a period of ten years and thereafter expenses incurred be amortized over a period of five years. However, Project Promotion Expenses and Share Issue Expenses under the head Miscellaneous Expenditure are being written off over a period of ten years in equal installments. These expenses have not been adjusted during in the past several years due to losses and keeping in view the current year profits, the same has been amortized during the year under report.

1.3 MANAGERIAL REMUNERATION - NIL

1.4 The information as required by para 3 & 4 of part II of Schedule VI of the Companies Act, 1956:

(A) PARICULARS OF LICENCED/INSTALLED CAPACITY/PRODUCTION - Since the company is trading in shares, securities and derivatives, the same is not applicable.

(B) EARNING IN FOREIGN EXCHANGE

1.5 Current Year Previous Year F.O.B. Value of Exports NIL NIL

1.6 CONTINGENT LIABILITIES

Bank Guarantee, Counter guarantee for Guarantee issued by bank NIL NIL

1.7 CAPITAL COMMITMENTS

Estimated amount of contracts remaining to be executed on capital account and not provided for are Rs. Nil (P.Y. Rs. NIL).

1.8 PROVISION FOR TAXATION

Provision for taxation under Income Tax Act, 1961 has been made under the provisions of section 115-JB of Income Tax Act, 1961, relating to Minimum Alternative Tax (MAT).

1.9 BONUS

The Company has not provided any bonus for the year under report, the same shall be accounted for as and when paid.

1.10 ACCOUNTING FOR TAXES ON INCOME

As a matter of prudence, company is not recognizing the deferred tax asset/liability as provided by the Accounting Standard - 22.

1.11 During the year under report, the company has allotted 38,78,324 Fully Paid Equity Shares as bonus shares to the existing shareholders of the company by capitalization of the equivalent amount from Share Premium Reserves the same has been approved by the shareholders of the company.

1 The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/-. Each holder of equity share is entitled to one vote per share.


Mar 31, 2010

1. Figures of previous year have been regrouped or rearranged, wherever considered necessary to make them comparable with those of the current year.

2. Preliminary expenses incurred upto March 31, 1998 are amortized over a period of ten years and thereafter expenses incurred be amortized over a period of five years. However, Project Promotion Expenses and Share Issue Expenses under the head Miscellaneous Expenditure are being written off over a period of ten years in equal installments. These expenses have not been adjusted during in the past several years due to losses and keeping in view the current year profits, the same has been amortized during the year under report.

3. MANAGERIAL REMUNERATION - NIL

4. The Balances of Sundry Debtors, Loan & Advances and Advances Recoverable are subject to confirmation and therefore remain unconfirmed.

5. The information as required by para 3 & 4 of part II of Schedule VI of the Companies Act, 1956:

(A) PARICULARS OF LICENCED/INSTALLED CAPACITY/PORDUCTION - Since the company is trading in shares, securities and derivatives, the same is not applicable.

(B) EARNING IN FOREIGN EXCHANGE

Current Year Previous Year F.O.B. Value of Exports NIL NIL

6. CONTINGENT LIABILITIES

Current Year Previous Year Bank Guarantee, Counter guarantee for NIL NIL Guarantee issued by bank

7. CAPITAL COMMITMENTS

Estimated amount of contracts remaining to be executed on capital account and not provided for are Rs. Nil (P.Y. Rs. NIL).

8. PROVISION FOR TAXATION

Provision for taxation under Income Tax Act, 1961 has been made under the provisions of section 115-JB of Income Tax Act, 1961, relating to Minimum Alternative Tax (MAT).

9. BONUS

The Company has not provided any bonus for the year under report, the same shall be accounted for as and when paid.

10. Related Party disclosures as required by AS - 18 "Related Party Disclosures"

Key Management Personnel Director Mr. Mahabir Parshad Gupta Director Mr. Sunil Kumar Gupta Director Mr. Rajbir Singh Makhni Director Mr. Ashvarya Kumar Maheshwari Associate Companies Diwakar Commercials Private Limited

11. ACCOUNTING FOR TAXES ON INCOME

As a matter of prudence, company is not recognizing the deferred tax asset/liability as provided by the Accounting Standard - 22.

12. During the year under report, name of the company has been changed to Euro Finmart Ltd. from Euro Gold Jewellery Ltd. and the same has been approved by the shareholders of the company and various statutory authorities. Also there is a change in the authorized share capital & paid up capital structure and the company has issued Preference Shares on preferential basis to various applicants belonging to non-promoter group.


Mar 31, 2009

1. Figures of previous year have been regrouped or rearranged, wherever considered necessary to make them comparable with those of the current year.

2. Preliminary expenses incurred upto March 31, 1998 are amortized over a period of ten years and thereafter expenses incurred be amortized over a period of five years. However, Project Promotion Expenses and Share Issue Expenses under the head Miscellaneous Expenditure are being written off over a period of ten years in equal installments. However, keeping in view losses incurred by the company during the year, such expenses have not been adjusted as per practice followed in the earlier years and therefore the loss for the current year is subject to this amount.

3. MANAGERIAL REMUNERATION - NIL

4. The Balances of Sundry Debtors, Advances Recoverable and Advance from Customers are subject to confirmation and therefore remain unconfirmed. 5, Related Party Disclosures

Key Management Personnel

Director Mr. Alshvarya Kumar Maheshwari Director Mr. Ashok Kumar Maheshwari Director Mr. Rajbir Singh Makhni Director Mr. Mahavir Parshad Gupta

5. CONTINGENT LIABILITIES

a. Bank Guarantee, Counter guarantee NIL NIL for Guarantee issued by bank

6. CAPITAL COMMITMENTS

Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil (P.Y. Rs. NIL).

7. PROVISION FOR TAXATION

Provision for Income Tax under Income Tax Act, 1961 has not been made keeping in view the losses Incurred by the Company.

8. BONUS

The Company has not provided bonus Rs. Nil /-(RY. Rs. Nil) for the period under report, (he same shall be accounted for as and when paid.

9. Related Party disclosures as required by As - 18 "Related Party Disclosures" - Nil

10. ACCOUNTING FOR TAXES ON INCOME

Keeping in view of losses, as a matter of prudence, company is not recognizing the deferred tax asset/liability as provided by the Accounting Standard - 22.

11. During (he period under report, the company has received order from Honble High Court of Delhi dated January 20, 2009 for 98% reduction in Share Capital of the company. Accumulated losses and Share Premium Account has been, written off on consolidated basis through reduction in share capital u/s, 100 of the Companies Act, 1956.

 
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